A tweet from Musk causes PEPE to surge by 150%! Is this madness or a conspiracy?
The rollercoaster of skyrocketing and plummeting
Recently, PEPE has experienced a 'heartbeat market': on July 11, the price broke through $0.000012, with a 24-hour increase of 8.65%, and a market cap exceeding 35 billion RMB, ranking among the top 40 cryptocurrencies. But don't let the surge cloud your judgment; the 4-hour K-line shows that the MACD histogram is continuously shortening, the bullish strength is weakening, the KDJ indicator is neutral, and the market is in a state of 'stuck between rising and falling'.
Critical point game, beware of 'false breakthroughs'. Currently, PEPE faces two major issues:
Resistance level at $0.00003
If this level cannot be broken, it may short-term retrace to the support level of $0.000025.
Soaring funding rate
With the surge in open contracts in a high-leverage environment, a single bearish candlestick could trigger a 'bullish liquidation wave'.
Musk stirs the pot, whales disrupt the market
The Musk effect: In June, Musk posted Pepe the Frog memes on the X platform, causing PEPE to surge by 150% in a single day, with a market cap surpassing $11 billion, directly competing with Dogecoin. A whale operated an address that deposited 60 billion PEPE on Binance, incurring a loss of $3.48 million within a week; retail investors should proceed with caution. The rise of a new player: Wall Street Pepe ($WEPE) raised over $3.5 million in 5 days, with staking returns exceeding 200%, diverting funds from traditional meme coins.
Short-term speculation vs. long-term risk
The surge of PEPE is essentially a speculative feast driven by 'social media + meme culture', but three major risks cannot be overlooked:
Technical hollowing
No actual application scenario, purely driven by emotion, akin to a 'castle in the air'.
Regulatory uncertainty
The U.S. SEC's definition of the 'securities attributes' of meme coins remains unclear, with policy risks looming like the sword of Damocles.
New projects like Pepecoin Network are seizing the market with technological innovation, and PEPE should be wary of 'the new wave pushing the old wave'.
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